Why is your expected salary for the end of March likely to arrive later than usual?

Don’t panic, your employer hasn’t forgotten. If you are used to receiving your salary at the end of the month, keep in mind that your March pay may arrive a little later than usual.

In fact, as reported by the Journal du geek, bank transfers will be suspended for several days in a row, starting at the end of next week. The last days of March and the first day of April are affected. The reason ? Target 2, the system that manages transfers between different European banks, will remain closed for days.

It is normally on hold every Saturday and Sunday, which explains why transfers always take longer to arrive on weekends than on weekdays, Target 2 is also closed on holidays. As Monday, April 1 is Easter Monday, Target 2 will be on hold for one more day, preventing transfers from arriving before Tuesday, April 2.

Banking operations slow down for four days

Furthermore, if Good Friday (which this year falls on March 29) is not legally a holiday in France, it is in Germany and other French border departments such as Moselle, Bas-Rhin or Haut-Rhin. For this reason, the Target 2 will also not be operational on Friday, March 29, as the European Central Bank confirmed to Le Parisien this Friday.

A four-day closure, therefore synonymous with the suspension of bank transfers between the afternoon of Thursday, March 28 and the morning of Tuesday, April 2. Since this period covers the end of March and the beginning of April, it is quite possible that many employees will see their salary drop exceptionally only at the beginning of next month, unless their payroll service has anticipated this suspension.

While banking operations are likely to slow down over this Easter weekend, this will not be the case for internal transfers between two accounts managed by the same bank, as well as instant transfers, which do not necessarily have to go through Target 2. We remind you that they are paid, but will soon be free for most customers in France.

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